Sei Investments Co. Buys 284,109 Shares of ProPetro Holding Corp. $PUMP

Sei Investments Co. lifted its stake in ProPetro Holding Corp. (NYSE:PUMP) by 113.7% in the first quarter, HoldingsChannel.com reports. The firm owned 534,059 shares of the company’s stock after purchasing an additional 284,109 shares during the quarter. Sei Investments Co.’s holdings in ProPetro were worth $7,696,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in ProPetro during the 4th quarter worth $56,000. Dark Forest Capital Management LP bought a new position in ProPetro in the 3rd quarter valued at $57,000. Raymond James Financial Inc. acquired a new stake in shares of ProPetro in the 2nd quarter valued at $60,000. Tower Research Capital LLC TRC increased its stake in shares of ProPetro by 70.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after buying an additional 4,461 shares during the period. Finally, State of Wyoming bought a new stake in shares of ProPetro during the first quarter worth $83,000. Institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PUMP. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 price target on shares of ProPetro in a research note on Wednesday, June 3rd. Weiss Ratings lowered ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Piper Sandler dropped their price objective on ProPetro from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday. Odeon Capital Group started coverage on ProPetro in a research note on Thursday, May 28th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus set a $23.00 target price on ProPetro in a report on Thursday, July 2nd. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.00.

ProPetro Trading Up 0.0%

PUMP opened at $11.10 on Monday. The firm’s fifty day moving average is $13.90 and its two-hundred day moving average is $13.69. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09. The firm has a market cap of $1.36 billion, a PE ratio of -100.93 and a beta of 0.77. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $18.50.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $305.81 million for the quarter, compared to the consensus estimate of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) earnings per share. Equities research analysts anticipate that ProPetro Holding Corp. will post -0.02 EPS for the current year.

ProPetro Profile

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.